Shares of Perpetua Resources Corp. (NASDAQ:PPTA – Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $23.79, but opened at $25.35. Perpetua Resources shares last traded at $25.0250, with a volume of 145,737 shares trading hands.
Analyst Ratings Changes
Several analysts have recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $43.50 target price on shares of Perpetua Resources in a research note on Tuesday. B. Riley Financial initiated coverage on Perpetua Resources in a report on Monday, August 3rd. They issued a “buy” rating and a $30.00 price target for the company. Zacks Research upgraded Perpetua Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Perpetua Resources in a research report on Friday, July 17th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.90.
Check Out Our Latest Analysis on Perpetua Resources
Perpetua Resources Price Performance
Perpetua Resources (NASDAQ:PPTA – Get Free Report) last posted its earnings results on Friday, August 14th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.59). During the same period in the previous year, the company posted $0.08 EPS. Analysts forecast that Perpetua Resources Corp. will post -1.42 EPS for the current year.
Institutional Investors Weigh In On Perpetua Resources
Hedge funds have recently modified their holdings of the stock. Osterweis Capital Management Inc. acquired a new stake in Perpetua Resources during the 2nd quarter valued at $26,000. Smartleaf Asset Management LLC purchased a new stake in Perpetua Resources in the 4th quarter worth about $31,000. UMB Bank n.a. acquired a new stake in Perpetua Resources during the 4th quarter worth about $36,000. Kestra Advisory Services LLC acquired a new stake in Perpetua Resources during the 4th quarter worth about $40,000. Finally, Pilgrim Partners Asia Pte Ltd grew its stake in Perpetua Resources by 225.0% during the 4th quarter. Pilgrim Partners Asia Pte Ltd now owns 2,600 shares of the company’s stock valued at $63,000 after acquiring an additional 1,800 shares in the last quarter. 70.07% of the stock is owned by hedge funds and other institutional investors.
Perpetua Resources Company Profile
Perpetua Resources Inc (NASDAQ: PPTA), formerly known as eCobalt Solutions Inc, is a mineral exploration and development company focused on critical metals that support the global clean-energy transition. The company’s primary objective is to advance its flagship Idaho Cobalt Project, a permitted underground mine located near Stibnite, Idaho. This project is designed to produce cobalt, copper, gold and silver, with an emphasis on providing responsibly sourced materials to North American battery and technology markets.
In addition to its Idaho Cobalt Project, Perpetua Resources holds exploration licenses and mineral tenures across the United States and Canada.
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